Adam Genest recently left a 6-figure speechwriting job with the Department of Defense so that he could fully commit to growing a startup he had founded in October 2014, called ValueCrates. On Sunday, he will appear on MSNBC's Your Business show to pitch his entrepreneurial venture to a panel of judges and thousands of viewers. Like any other participant, Genest will hope that the media spot can bring new customers and potential investors to ValueCrates.
In an interview with DC Inno, Genest said that he found out about the opportunity to pitch on MSNBC by watching the show several weeks ago and then sending an application email.
"I thought why not me," Genest recalls.
ValueCrates is an early stage company with surplus of 3,000 plastic crates which it rents and delivers to people who are moving so they don't have to buy, assemble and discard cardboard boxes.
About 60 percent of ValueCrates customers are young professionals who are moving between apartments in the D.C. area. The remainder of customers are largely single family home owners, small businesses and non-profits who are moving or renovating their office space.
As far as "disruptive" technologies stand, ValueCrates doesn't quite fit the cliché startup pitchdeck that typically promises industry redefining innovation. Instead, the 2-person Arlington, Va.-based moving business follows a simple model: sell an in-demand product with a high profit margin.
Genest declined to disclose the exact amount of money his company has raised from private investors, but said "we have raised 5-figures in equipment financing." This funding came via Calif.-based METRIX Capital and Financial Pacific.
On a monthly basis, Genest said he predicts roughly 50 to 60 customers. Order on ValueCrates are currently placed through a mobile-responsive website though a mobile app is also in the works.
"We are considering rolling out an app in the near future, especially as we start providing storage services," Genest explained.
In recent months, ValueCrates announced partnerships with 495 Moving as well as The Bozzuto Group, a local real estate development and construction company.
"These strong corporate partnerships will enable us reach more customers while keeping our customer acquisition costs down. We are also raising a seed round of investment and are in discussions with several investors," said Genest.
At the moment, ValueCrates operates in the D.C.-area while it has plans to eventually expand to Baltimore, as well as provide additional services, such as on-demand storage services, according to Genest.
